Comcast Corporation $CMCSA Shares Acquired by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lifted its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 19.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,275 shares of the cable giant’s stock after buying an additional 12,057 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Comcast were worth $2,651,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. Nuveen LLC acquired a new position in shares of Comcast during the 1st quarter worth $940,015,000. Dodge & Cox increased its position in Comcast by 19.1% during the 1st quarter. Dodge & Cox now owns 94,217,741 shares of the cable giant’s stock worth $3,476,635,000 after purchasing an additional 15,115,074 shares in the last quarter. Pacer Advisors Inc. increased its position in Comcast by 1,959.3% during the 1st quarter. Pacer Advisors Inc. now owns 13,228,732 shares of the cable giant’s stock worth $488,140,000 after purchasing an additional 12,586,329 shares in the last quarter. KBC Group NV lifted its stake in shares of Comcast by 724.7% during the first quarter. KBC Group NV now owns 10,160,649 shares of the cable giant’s stock valued at $374,927,000 after buying an additional 8,928,641 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Comcast by 119.1% during the first quarter. Acadian Asset Management LLC now owns 7,595,322 shares of the cable giant’s stock valued at $280,238,000 after buying an additional 4,128,434 shares during the period. Institutional investors and hedge funds own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

CMCSA has been the subject of several recent analyst reports. Barclays lowered their price target on Comcast from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Citigroup reiterated a “buy” rating on shares of Comcast in a report on Tuesday, August 26th. Rothschild & Co Redburn decreased their target price on Comcast from $44.00 to $35.00 in a report on Friday, June 20th. Scotiabank boosted their target price on Comcast from $44.50 to $45.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Sanford C. Bernstein decreased their price target on Comcast from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.07.

Comcast Stock Performance

CMCSA opened at $30.40 on Friday. The firm has a market capitalization of $112.24 billion, a P/E ratio of 5.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The stock’s 50 day moving average price is $32.79 and its two-hundred day moving average price is $34.20. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 12-month low of $30.38 and a 12-month high of $45.31.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The firm had revenue of $30.31 billion for the quarter, compared to analyst estimates of $29.81 billion. During the same quarter last year, the firm posted $1.21 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast’s dividend payout ratio (DPR) is presently 21.82%.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.